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FORESTRY AND THE EMISSIONS
TRADING SCHEME ("ETS") IN NEW ZEALAND
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INTRODUCTION
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The 2008 climate change legislation in New Zealand
effectively nationalised the carbon sequestered in exotic forests* in
existence on 1 January 1990.
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The mechanism established by the legislation to
discourage owners of pre-1990 forests
from changing the use of their land is
the DEFORESTATION LIABILITY set out in
Tables contained in the forestry sector Regulations** made by Order in
Council.
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This calculator provides an easy way for the user to
undertake a range of ETS related calculations. [While we have checked that
our figures are accurate, if completing any Returns, a final check to the
Official Tables contained in the then current Regulations should be
undertaken.]
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ABOUT THE TABLES
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(based on the 8th
December 2009 reprint)
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The Tables are to be used for all ETS forestry
calculations. There are two types of calculation, (i) the deemed emissions
from deforestation and (ii) the deemed sequestration from a growing forest or
the deemed emissions from its harvest.
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Under the current legislation (as amended in December
2009), all Pre-1990 exotic forests* are in the ETS while owners of Post-1989
forests, including those with Indigenous forests planted after 1989, can opt
into the ETS. However carbon credits
(known as NZ units - "NZU's") will only be available for carbon
sequestered after 1 January 2008.
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[For the complete Look-up Tables, click here.]
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There
are six sets of Tables in three categories.
The first two relate to pre-1990 exotic forests for which there are
nine Pinus
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Radiata
growing regions and three non-Pinus specie groupings.
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The
second set of Tables relates to the sequestration rates for post-1989
forests, with Indigenous added to the non-Pinus group.
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The final category is the carbon that remains in and on
the ground after the harvest of commercial forests. The amount depends on the age of the
harvested trees and has to be accounted for as equal emissions over each of
the subsequent ten years.
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Note:
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In the case of the deforestation of a forest under nine
years old, the liability is calculated by reference to the age of the
previous rotation at the time of harvest.
There could be substantial advantages gained by waiting until year
nine to deforest.
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* There is provision in the legislation for
owners of pre-1990 forests of less than 50 hectare to "opt out"
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** Click here for
the Forestry Regulations
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PRE-1990
DEFORESTATION LIABILITY
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These calculations are
relatively straight forward. Enter the
required information in the light boxes and you will get your answer.
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Pinus:
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Age
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yrs Deemed emissions
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Area
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ha Price
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Non-Pinus:
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Age
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yrs Deemed emissions
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Area
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ha Price
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Carbon
credit price:
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The big unknown for the
future is the price carbon credits are likely to trade at. Without an agreement from
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Copenhagen we in NZ don't even know the size of the
market, ie will our forestry related carbon credits have a market overseas.
The 2009 amendments to the climate change legislation capped the price of
NZU's at $25 until 2013. It is anybody's guess as to what will happen after
that. It is however, safe to assume
that the price will be higher.
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To help with determining a
price for the above calculations use the following: Initial price $
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Deforest year
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SUMMARY
(user defined)
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Price rises (%)
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pa Future price: $
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Reference
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CO2/ha
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Area
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CO2 price $
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Liability
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Home
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© Copyright 2010 - The Tree
Carbon Company. All rights reserved.
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To contact us, click here.
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